Seed

Series A

Others

Series C

Series B

Pre-Seed

Pre-Series A

Riyadh

Faris AlRashed Alhumaid

Mohammed Al-Shammasi

Bassam Noor

Mohammed Ghonaim

If you're ready to take your business to the next level with Derayah Venture Capital, we want to hear your pitch.

Investment in Startup

Derayah Venture Capital: A leader in 1 funding. Explore portfolio trends and investment strategies on Lucidity Insights.

Derayah Venture Capital

Fintech

E-Commerce

Technology

Foodtech

Finance

Support & Management Services

Derayah VC is a Saudi-based Venture Capital fund that supports high-growth tech startups in the MENA region from early to growth stages.

Debt Financing

Lendo

Lending

Lendo is a fintech startup that provides a range of financing products and offers a peer-to-peer lending platform with a core focus on SMEs' debt finance.

Foodics

Software Dev/Test

Predictive Analytics

Productivity Tools

Restaurants

Payments

Software

Accounting

Customer Experience

Foodics is the leading restaurant operations and payment tech in the MENA region, powering the operations of +30,000 restaurants with an all-in-one software ecosystem to manage and scale.

Dammam

Sary

Marketplace

Retail & Wholesale

MENAP B2B marketplace connecting small businesses with wholesalers and lenders to procure supply efficiently.

Bazaar Technologies

Rewaa

Information Technology

Telecommunications

Electronics

Rewaa gives merchants a simpler way to run their business—by bringing all operations into one connected system.

Syarah

Automotive

Service Industry

Syarah is the leading e-commerce platform that is revolutionizing the way used cars are bought.

Cairo

Capiter

Internet

Capiter is a B2B marketplace that connects FMCG suppliers, wholesalers, and merchants on one platform, allowing merchants to order products online while accessing credit facilities.

Dubai

iKcon

Food and Beverage

iKcon, UAE-based tech-enabled cloud kitchen operator that procures, cooks, and delivers food on behalf of restaurants and brand owners, was acquired by REEF in 2021.

Eat App

SaaS

Mobile

Reservations

Apps

Eat App, founded by Nezar Kadhem and David Feuillard in 2015, is an industry-leading restaurant reservation and table management platform. Eat App provides cloud-based applications to restaurants for increasing efficiency and revenue through real-time restaurant reservations, automation, guest data management, and CRM.

Moyasar

Financial Services

Moyasar Financial Company serves as a pivotal financial structure powering the digital economy of Saudi Arabia.

Makkah

Resal

Loyalty Programs

Gifting Platform

Resal is a leading company in enabling individuals, businesses, and merchants to fully benefit from the digital value through prepaid cards, rewards and loyalty programs.

Logistics

Retail Technology

Delivery Services

Shipping

OTO is the leading provider of eCommerce delivery management technologies to enterprise retailers and eCommerce brands in MENA & Turkey.

PE Round

Sabbar

Recruiting

Staffing Agency

Employment

Sabbar is a local recruitment platform for jobs in tourism, restaurants, cafes, retail, entertainment, and service industries.

Dawul

Social Network

Dawul is a platform that allows investors to share details of the financial status of their portfolios with other investors.

Mabaat

Proptech

Real Estate

Rental

Property Rental

Mabaat is an innovative tech operator platform focused on disrupting the short-term rental market.

Speero

Speero is the largest marketplace for car parts and services in Saudi Arabia, with a mission to accompany car owners in maintaining their vehicles, while helping repair shops and part vendors move their operations online and boost their businesses. Speero is the ultimate one-stop shop for all car owners.

Sanad Cash

Mobile Apps

Mobile Payments

Sanad Cash is MENA's  first All-in-One Spend Management tailored for Startups, SMEs and Corporates.

Riyad-based social trading platform Dawul announced on Tuesday that it has raised $5 million in a seed round led by RAED Ventures with participation from Impact46, Seedra Ventures, Derayah Venture and Sukna Ventures.

Dawul platform is the leading platform specialized in social trading. Established in 2020, it acquired a permit from the Saudi Capital Market Authority to conduct financial technology experiments by the end of the same year, and  was officially launched in July 2021. Dawul is built to help beginner investors keep looking for automated ways to execute trades or, what’s even better, follow professional traders and their portfolios and investment strategies. This way, they can obtain details of the traders’ operations directly and in real time.

Dawul also introduced the “investment funds” product, which allows users to view the data of investment funds in the Saudi market, and to see all updates and analysis related to their own preferred funds. All this is through alerts and notifications that are sent periodically to help beginners in making decisions regarding the buying and selling of stocks, and the building of their investment portfolios in a transparent and safe manner.

Dawul plans to take advantage of this investment round by expanding its offers of social trading-related products, as well as expanding its network in the Middle East and North Africa. The platform aims to target the American and British market with its services,  while focusing its efforts on recruiting talent in the fintech industry.

“We are excited to move forward with this fund and we expect to be the first choice for traders in the region based on our value, upgrading the investor experience, and improving transparency in the financial sector,” said Mr. Mansour Al-Harbi, Founder and CEO of Dawul, in response to this funding round.

Co-founder of RAED Ventures Mr. Talal Alasmari commented on this funding round: “There are enormous opportunities behind the concept of social trading which have not yet been applied in the region. We are pleased to be investing in Dawul platform which is the first to introduce this concept to the Saudi market through a safe and transparent platform, and with the support of the Capital Market Authority to raise awareness among investors. We believe in the ability of the Dawul team to expand and serve  the whole MENA region.”

“The initiatives from public and private sectors on the importance of investment, along with the people’s awareness of the value of investments, there is a gap of knowledge in the investment field and its risk. Dawul’s fills the gap by empowering experts in the investment field to share their experience. We bet on the vast experience of Mansour Al-Harbi driving the social trading platform Dawul forward” Mohammed Alnasyan from Impact46 commented on the investment.

Saudi’s Social Trading Platform Dawul raises $5 Million in seed round with participation from Impact46

Speero, a Saudi Autotech marketplace, raised a six-figure USD pre-series A funding round from 500 Startups, Impact 46, and Derayah Ventures. The platform offers an online marketplace for automotive spare parts, aiming to simplify the supply chain and reduce costs for customers. Speero plans to focus on enhancing customer experience and expanding its market presence.

Speero raises pre-series A investment funding from Impact46, 500 startups, and Deraya Ventures.

Speero, a Saudi Autotech marketplace, raised a six-figure USD pre-series A funding round from investors including Impact46, 500 Startups, and Derayah Ventures. The company, founded by Abdullah bin Shamlan, Ameen Mahfouz, and Abdulaziz Al Ashram, offers an online marketplace for automotive spare parts. Speero plans to use the funds to simplify the customer journey, innovate in the online car parts and maintenance space, and address the fragmented spare-parts industry in Saudi Arabia.

Speero raises pre-series A investment funding from Impact46, 500 startups, and Deraya Ventures

Riyadh-based fintech Lendo has raised $7.2 million in a Series A round led by Saudi’s Derayah Ventures, it announced in a statement today to MENAbytes. The equity-only round also includes participation of Seedra Ventures, Shorooq Partners, 500 Startups, and Impact46.

Founded in 2019 by Osama AlRaee and Mohammad Jawabri, Lendo offers instant invoice financing to SMEs through its Shariah-complaint lending marketplace. The offering helps SMEs with their immediate cash requirements. Invoice financing is a popular short-term borrowing tool for businesses in different markets around the world where they use their receivables to get loans from banks (or other financial institutions) but there are hardly any banks that offer it in the region.

Lendo offers loans starting from SAR 100,000 (about $27,000) and going up to SAR 3 million ($800,000) by connecting the SMEs with investors on its marketplace through crowdlending (aka peer-to-peer lending). The SMEs looking for financing can apply on Lendo’s platform if they have a valid Saudi business license (commercial registration), have been in operations for at least one year, and have an annual turnover of SAR 2 million ($530,000) at least.

The startup takes up to three days to review the profile after receiving all the required details and documentation. If approved, the business can apply for financing of up to 80 percent of the invoice value sold to the customer. These opportunities are then shared on Lendo’s platform with the investors who finance them collectively.  Lendo claims that on average it takes about half an hour for an opportunity on its platform to close (i.e. raise the money needed).

The investments start from SAR 1,000 (about $270) and can be made by any Saudi citizen or resident over the age of 18 who has a valid ID and a bank account. The expected annual profits range from 9 to 24 percent depending on the risk profile of the SME. All the opportunities listed on Lendo receive a risk rating based on its credit history, financial position, owners’ personal credit history and experience, and invoice strength.

“We provide solutions to two major pain points in the SME finance market. First, the limited options for SME businesses to borrow cash quickly and easily and second, the limited short-term options that offer higher returns for investors/lenders,” said the startup in a statement.

Lendo makes money by charging the SMEs with a management fee and taking a 20 percent cut from the profit investors make.

Launched just last year, Lendo claims to have financed over 100 invoices worth over SAR 60 million for SMEs and given more than SAR 3 million in profits to its investors. Its co-founder and CEO Osama AlRaee told MENAbytes that they currently have a default rate of zero.

In a statement, commenting on the occasion, he said, “We are proud to be backed by leading investors who have excellent knowledge and experience in the most rapidly maturing MENA entrepreneurial ecosystem. Aside from the financial support and expert advice from the pioneers in the market, their trust in our business model will help us achieve both our short term and long-term goals and scale our business to the next level.”

“The additional investment helped us create more opportunities for Lendo to finance businesses during the challenging economic climate brought about by Covid-19. Our strategy is to provide access to low-profit rate financing to SMEs and help funders receive better returns. Our alternative form of financing has proven to be faster in getting the needed cash flow and has become an essential part of the recovery strategies for many of our customers/clients. We are proud to be the preferred platform of choice for SMEs lending and borrowing in Saudi Arabia and look forward to being pioneers in the wider MENA region,” he added.

Mohammad Jawabri, the co-founder and COO of Lendo, said, “As a team of fintech experts, we combine financial expertise with advanced technology to bring our clients solutions that can turn waiting time into a valuable win-win situation for all parties involved. During the pandemic, there was a huge surge in the numbers of SMEs who turned to Lendo for financing to keep their businesses afloat. Our 25% month-on-month growth is a testimony of the hard work, dedication, and commitment of our team.”

The startup, for now, is looking to expand into Saudi to serve Jeddah and Eastern Region before it launches in other parts of the region. It is also looking to introduce new products to help SMEs raise working capital. The SME lending landscape in Saudi also includes players like Raqamyah (which raised $2.3 million just last month – and interestingly the round was led by Impact46, a firm that has also participated in Lendo’s funding round), Forus, and Dubai-headquartered Beehive. Lendo is one of the many lending startups that are part of Saudi Central Bank’s regulatory sandbox.

Faris Alrashed from Derayah Ventures, said, “The Lendo team has built a remarkable company which is evidenced by their performance especially during the initial months of Covid-19. Lendo is a powerful solution in the industry and its offering is well-timed with the rapidly increasing demand for financing solutions in the dynamic SME lending arena. We firmly believe in the founders and their unparalleled focus on execution, user experience, and scale.”

Shane Shin, the Founding Partner of Shorooq Partners, said, “As the only new investor to join Lendo’s journey, we are humbled and excited to work closely with Osama, Mohammed and the Lendo team to propel their growth within Saudi as they become the dominant regional player.”

Saudi’s Lendo raises $7.2 million Series A for its SME lending marketplace

Lendo, a Saudi Arabia-based Shari’ah compliant fintech startup, has raised $7.2 million in a Series A funding round led by Derayah Ventures, with participation from Seedra, Shorooq Partners, 500 Startups, and Impact46. The funds will be used to enhance platform capabilities and expand product offerings. Lendo, co-founded by Osama AlRaee and Mohammad Jawabri, enables SMEs to pre-finance invoices and offers short-term borrowing options.

Lendo raises $7.2 million in Series A

The Saudi-based fintech Moyasar has completed a seed investment round, which included Derayah Ventures Fund and was worth SAR 78.75 million ($21 million).

Moyasar Closes Seed Investment Round

Saudi Arabia-based food and beverage (F&B) retail and restaurant management platform FOODICS, has raised $20 million in a Series B round, Led by Sanabil Investments and co-led by STV, with participation from Endeavor Catalyst, Elm and Derayah. This latest investment brings the total funds raised by FOODICS to date to $28 million.

FOODICS raises $20 million in Series B

Saudi Arabia-based B2B marketplace Sary has raised $30.5 million in a Series B round led by VentureSouq with participation from new investors US-based Rocketship.vc and STV alongside current shareholders Ra’ed Ventures, MSA Capital and Derayah.
Founded in 2018 by Mohammed Aldossary and Khaled Alsiari, Sary connects small businesses with a network of wholesalers and manufacturing brands via mobile and web applications.
Since its inception, the company’s apps were installed by over 100,000 users, and during the pandemic alone, Sary was able to serve over 30,000 verified retail businesses, moving 4 million tonnes of goods across Riyadh, Jeddah, and Dammam.
This investment will be used to grow Sary’s geographical footprint, expand its suite of products and services, and move into new categories.
Sary is planning to integrate third-party financial services on its platform and is currently developing native fintech products to diversify revenue away from its marketplace towards fintech streams.

Sary raises $30.5 million Series B

Sary, the digital B2B marketplace connecting small businesses with merchant wholesalers of fast moving consumer goods, announced today a Series A investment of $6.6 million led by Raed Ventures, with participation from MSA Capital and Derayah Ventures.

Saudi Arabia's SARY secures $6.6M in Series A funding from Raed Ventures, MSA Capital & Derayah Ventures

Jeddah-based accommodation platform Mabaat raised $2.4 million in a seed funding round led by Dubai-based Derayah Ventures. The funds will be used to enhance marketing strategies targeting regional travelers, improve technology infrastructure, and expand the workforce. Mabaat aims to support Saudi Arabia's tourism goals under Vision 2030 by managing mid- to high-end private homes and compounds for short-term rentals.

Saudi AirBnB-like platform Mabaat raises $2.4m in funding round

Saudi-based Proptech platform Mabaat raised $2.4 million in a Seed funding round led by Derayah Ventures, with participation from SEEDRA Ventures. The investment will be used to enhance Mabaat's platform for managing short-term rental properties and to expand its reach to regional travelers, aligning with Saudi Arabia's Vision 2030 goals. The funding reflects a trend of local investment in Saudi startups.

Saudi Proptech Mabaat Raises $2.4M from Derayah & VC SEEDRA

Mabaat, a Saudi-based proptech company founded in 2019, has raised a Seed funding round. The company, which manages properties on behalf of their owners, aims to disrupt the alternative accommodation market in Saudi Arabia. The funding will support Mabaat's growth and its partnership with the Ministry of Investment and Tourism. Key investors include Derayah and SEEDRA Ventures.

Saudi proptech Mabaat raises $2.4 million in Seed round

iKcon, a Dubai-based ghost kitchen provider, raised $20 million in Series A funding led by Mohamed Yousuf Naghi Group, AlTouq Group, Derayah Ventures, B&Y Venture Partners, AbdulMohsin Al Houkair Holding Group, and Nazer Group. The funds will be used to expand iKcon's ghost-kitchen-as-a-service model to new markets, starting with Saudi Arabia, and to enhance its proprietary technology for better quality and consistency in food delivery. iKcon currently operates 15 cloud kitchens in the UAE and plans to increase this to 50.

iKcon Raises $20M to Expand Its Ghost Kitchen Network

iKcon, a cloud kitchen platform, raised $20 million in a Series A funding round to expand its operations in Saudi Arabia and the broader region. This round brings iKcon's total funding to $32 million. The company plans to grow its network to 50 cloud kitchens and enhance its technology for data analytics and AI. Investors include AlTouq Group, Nazer Group Holding Company, and Mohamed Yousuf Naghi & Brothers Group.

Cloud kitchen platform iKcon raises $20 million Series A to expand its KSA and regional coverage

Dubai-based cloud kitchen operator iKcon has raised $20 million in a Series A funding round. The investment was led by Mohamed Yousuf Naghi Group, AlTouq Group, Derayah Ventures, B&Y Venture Partners, AbdulMohsin Al Houkair Holding Group, and Nazer Group, bringing iKcon's total funding to $32 million. Founded in 2019, iKcon operates 14 kitchens and plans to expand to 50, with a focus on regional expansion into Saudi Arabia. The funds will be used to accelerate expansion plans and develop iKcon's technology stack.

Dubai’s iKcon raises $20 million Series A to expand its ‘cloud-kitchen-as-a-service’ platform to Saudi

iKcon, a Dubai-based cloud kitchen platform, raised $20 million in a Series A funding round. The funds will be used to expand into Saudi Arabia and other regional markets, as well as to develop iKcon's proprietary technology. The company plans to grow its network to 50 cloud kitchens. Key investors include MYN Group and Derayah Ventures.

iKcon Series A funding of $20M

Cairo-based B2B e-commerce startup Capiter has raised $33 million Series A, co-led by Quona Capital and MSA Capital alongside additional investors Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures.
Founded in July 2020 by brothers Mahmoud Nouh (former COO and co-founder of SWVL) and Ahmed Nouh, Capiter brings together manufacturers, brands, wholesalers and retailers on one platform with access to financial services.

The acquired funding will help Capiter expand its service across Egypt and the Middle East region within 2022.

B2B e-commerce Capiter raises $33 million Series A

Eat App, a global leading restaurant reservations platform based in Dubai, has today announced the conclusion of its $11 million series B round.

UAE’s Eat App raises $11 million Series B round

Saudi-based on-demand payment and spend management platform Sanad Cash, Inc. has raised a $1.6 million Seed round with participation from Impact46 seed fund, BIM ventures, Hala ventures, Derayah ventures, and a distinguished list of angel investors in KSA.

Sanad Cash was founded in 2020 by Sultan Alhugail, Mahmoud Iswiad, and Shorhabel Ghoneim and they are batch one alumni from Sanabil 500 accelerator. Sanad Cash offers small to medium-sized businesses (SMBS) and corporates a SaaS platform to help them track all of their spendings, and initiate on-demand payments for employees and others with just a few clicks.

“Sanad Cash vision is to introduce one a stop shop for all SMBs day to day financials by offering them global standard digital tools at a reasonable cost. Our partnerships with existing financial institutions will help us to introduce what we call an all-in-one new financial system that includes a corporate card, a spend management software, and a business account in one easy dashboard,” Says Mahmoud Iswiad, co-founder and CEO of Sanad Cash. 

“SMBs are the nerve of our economy and they represent not less than 90 per cent of business and more than 50 per cent of the employment in Saudi Arabia. We are witnessing a real need in KSA SMBs ecosystem to adopt more digital tools and move towards a cashless society which is a main pillar of the kingdom 2030 vision,” Says Sultan Al-Hugial, co-founder and chief commercial officer.

He added, “Our mission is to be the number one enabler for efficient and cost-effective on-demand payment and spend management in Saudi Arabia and the Middle East.

Sanad Cash will utilise its funding round to strengthen its position in the KSA market and acquire new local talents across multiple fronts. 

We are extremely thankful to all of the investors who participated in this round and our legal firm Levari for leading the legal front in this round and the previous pre-Seed round as well.

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